ALBANY, New York, November 22, 2017 /PRNewswire/ --
According to the research report, the global venous stents market was worth at US$750.00 mn in 2016 and is estimated to be worth US$1.72 bn by the end of 2025. During the forecast years of 2017 and 2025, the global market is anticipated to register a CAGR of 9.95%. Out of the various technologies available in the global market, the iliac vein stent technology is likely to surpass all others due to increasing incidences of obesity. In terms of regions, the global market will be dominated by Europe as the region boasts a strong presence of players and higher demand for minimally invasive procedures.
The global venous stents market has witnessed a steady rise in the recent years as the several vein-related diseases and disorders are being diagnosed. These tiny metallic tubes are inserted in veins to expansion in case of blockages. Venous stents are used for peripheral and central veins, depending the need.
In recent years, the demand for venous stents has shot up due to the growing lifestyle diseases, obesity, and poor habits. A venous stenting procedure is typically performed to contain the peripheral venous hypertension amongst those suffering with symptomatic or chronic venous disorders.
The report suggests that the global market will be driven by the increasing investment of players in developing innovative products. Research and development toward launching innovative products is also projected to benefit the global market in the coming years.
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Furthermore, the persistent rise in chronic venous diseases has also been identified as an important growth driver the overall market. Additionally, shifting preference toward minimally invasive surgeries has also led to a spike in the demand for venous stents market. Surge in cardiovascular ailments that is being aided by stressful lifestyles will also augment the growth of the global market in the near future.
On the flip side, the global market is likely to face some tough challenges as well. The high cost of stenting procedures and the lack of awareness about the possible consequences of narrowing arteries are likely to restrain the market from achieving its full potential in the near future. The poor medical and healthcare infrastructure in developing countries is also projected to hamper the overall market in the foreseeable future. Unsupportive reimbursement policies and poor insurance schemes are also expected to complicate growth for venous stents market in certain regions.
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Transparency Market Research (TMR) observes that the competitive landscape in the global venous stents market is intensifying. The rise of venous disorders amongst the global population has urged several key players to develop better products.
Key players such as Boston Scientific Corporation, C. R. Bard, Inc., Jotec GmBH, are Veniti, Inc. are making major investments in conducting clinical trials to understand the implications of their products. Such efforts are expected to lead to wide array of products to tackle difficult disorders in the near future, making the competitive scenario consumer-oriented.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research